Capital Markets | Capital Expenditure | Drilling Program - Wells
E&P Companies Talk Increase In 2023 Plans; Rigs, Frac Crews and Capital Budgets
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Updated : 11/15/2022
"Through their efforts, we now expect our average well cost to increase a modest 7% as compared to last year. As a result, we have narrowed our full year capital guidance to $4.5 billion to $4.7 billion. Given the elevated and persistent inflation pressures we have experienced this year, I am proud of our employees' efforts to mitigate a majority of this impact to our capital plan.
We continue to evaluate and shape our plans for 2023. Production growth and infrastructure investments will remain guided by capital discipline. We expect low single-digit oil growth similar to this year. We currently forecast oil equivalent growth, including gas and liquids, at a low double-digit rate, somewhat higher…
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